N.Y. Comp. Codes R. & Regs. tit. 5 § 10.7

Current through Register Vol. 46, No. 45, November 2, 2024

Section 10.7 - Competition criteria

The following factors may be considered by the commissioner in determining which of the competing applications he or she shall recommend to the empire zones designation board:

(a) demonstration of chronic and severe economic distress and the reasons therefor as evidenced by population and employment decline, increase in unemployment and public assistance recipients, decline in real property values, relative decline in per capita income, the extent of abandoned property and deteriorated industrial, commercial and residential properties, a decline in the number of business establishments, obsolescence in plant capacity, loss of markets to foreign competition, the unavailability of expansion financing, poor access to markets, the retirement of local owners of companies;

(b) a demonstration of the potential of the area to attract private investment that will provide employment to persons in the area who are unemployed or economically disadvantaged;

(c) a demonstration of substantial public and private commitments to a long-term economic revitalization program for the area and the local capacity to manage such a program;

(d) a demonstration of the manner in which the overall economic development plan enunciates the needs of the area and sets forth proposals to meet them;

(e) a demonstration of the manner in which progress in implementing the zone development plan will be routinely evaluated on the local level and how information essential for periodic evaluations will be compiled;

(f) the extent to which the applicant has made financial commitments for zone activities, including but not limited to, marketing of the zone for business development, human resource services for zone residents and businesses, and services for small and minority and women-owned businesses; and

(g) the likelihood that any publicly controlled or other developable lands and buildings within the proposed zone will be made available for industrial and commercial development.

N.Y. Comp. Codes R. & Regs. Tit. 5 § 10.7